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 Lawyer fees, reasonable quotation?

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Tavia88
post Jul 22 2015, 02:00 AM

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QUOTE(Sblad3 @ Jul 21 2015, 08:59 PM)
Updated the full quotation here.
Wonder if lawyer say give 30% lawyer fees, is it on the total professional fee (30% on 6134)or the 30% only particular on the agreement(30% on 4406.4 only)?
Question for GST as well, for this quotation, the GST charged on professional fees. However I've received another quotation that professional fee and disbursement fees both charge GST. Which item can avoid GST??

Loan agreement
Professional fee
loan agreement 4406.4
Charge Annexure / Deed of Assignment (min RM200.00) 440.6
3 Power of Attorney (min. RM200.00) 440.6
6 Developer Confirmation 300
10 Statutory Declaration 200
Total 6,134

Stamp duty
principal facilities agreement 2830
facilities agreement 30
charge annexure/deed of assignment 40
power of attorney 40
statutory declaration 20
letter of offer 10
Total 2970

Disbursement
Affirmation of Statutory Declaration 20
2 Land Search 120
3 OA Search 60
4 SSM Search 60
5 Registration Fee for Power of Attorney 50
10 CTC Title / Official Search 50
11 Developer's Confirmation Fee 53
12 Purchase of Loan Documents 318
13 Fax/Telephone Charges 100
14 Printing/Photocopying Charges 150
15 Transport/Courier/Postage Charges 280
16 Miscellaneous 50
Total 1311


S&P
Professional fee
S&P agreement 4846
Deed of Assignment/Memorandum of Transfer 300
3 Deed of Mutual Covenants 300
4 Developer Confirmation Fees 200
6 CKHT 2A (RM200/person) 400
Total 6196.76

Stamp Duty
Meorandom of transfer/deed of assignment 12840
S&P agreement 40
deed of assignment 30
deed of mutual onvenants 40
total 12950

Disbursement
Affirmation of Statutory Declaration 20
2 Land Search 120
3 OA Search 60
4 SSM Search 60
11 Administration Fee for Developer 53
12 Fax/Telephone Charges 106
13 Printing/Photocopying Charges 159
14 Transport/Courier/Postage Charges 300
15 Miscellaneous 50
Total 928
*
Hi,

All the items that dropped under professional fees will subject to gst. Also those drop under reimbursement such as (printing, transport, courier, fax, telephone charges, micellaneous...). And yes, normally legal firm provide rebates on the principal legal fees only. Which the amount u quoted is the right one. As they need to follow up your entire case for around 3 months time. So, i trust what they earn is reasonable for their professional advise and assistance they provided to you in the entire 3 months.

Can ask for rebates but always remember that a reasonable rebates will do as long as the firm can promise you to disburse your loan within the timeframe without paying any late penalties. Or else the late penalties ended up will cost more than your discount. Happy shopping and congrats for yr new house! biggrin.gif
Tavia88
post Jul 22 2015, 02:02 AM

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QUOTE(WaCKy-Angel @ Jul 21 2015, 08:39 PM)
About 4K only?
How about loan agreement fees?

Ur property about 200K?
*
Based on the quotation TS provided, the property shall be less or more around rm620k. tongue.gif
Tavia88
post Jul 22 2015, 10:29 AM

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QUOTE(aurora97 @ Jul 22 2015, 09:35 AM)
After some heavy negotiations this is the bill tally.

Note:
- direct purchase from developer.
- 2 borrowers
- 1 person for SPA

(a) SPA
- SPA legal fees absorbed by developer.
(b) Disbursements
- stamp duty
> x4 SPA = RM 40
> x4 DMC = RM 40

© Others
> Telephone, Fax, Postage = RM 150
> Printing and/ or photocopy = RM 50
> Travelling to Land Office/Registry/Stamp Office and Others = RM 200
> MISC = RM 50

(i) Banking Facility
- Loan Document legal fees absorbed by developer
(ii) Disbursements
-Search Fees
> Land title search on Master Title = RM 60
> x2 Bankruptcy Search on x2 Borrower = RM 30
> x1 Winding-up search on Developer = RM 15
> x1 CCM search on the Developer = RM 15
(iii) Stamp Duty
> x1 Facility Agreement  + 2 additional copies = RM (ad volarem) + RM 20
> x4 Deed Of Assignment = RM 40
> x4 Power of Attorney = RM 40
> x1 LO = RM 10
> x2 Statutory Declaration = RM 20
(iv) Registration Fees
> x1 PA = RM 50

Others
> affirmation fee on statutory declaration (2x signatures) = RM 20
> Documentation Fee = RM 265
> Printing = RM 100
> Telephone Fax and Postage etc… = RM 100
*
Reasonable price. Not expensive at all. biggrin.gif

Tavia88
post Jul 22 2015, 03:44 PM

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QUOTE(Sblad3 @ Jul 22 2015, 11:51 AM)
I wonder if i pay all $ in lump sum by cash/bankdraft, will able to get better price?

@Tavia898
is the rebate you talking about is same as discount on legal fees? else what kind of rebate that i can ask for?

@aurora97
it is sub-sale, you got quite cheap quotation for those bills compare to mine
*
Hi yes the rebate i mention is the one same as discount on legal fees.
Tavia88
post Jul 31 2015, 10:33 PM

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QUOTE(Sblad3 @ Jul 27 2015, 04:25 PM)
Now the bank said the loan agreement must use their panel lawyer, and only give me 1 lawyer.
And the banker only giving me 1 choice...would like to ask, is there any rules/terms force us borrower must take their panel?  what action i can take ?
*
Haha... Sure that banker got alot of referral from the firm lols... If the lawyer u choosing is also the full panel of the bank, no issue at all. If the banker insist you cant use your own panel, just go to his manager or just cancel off the loan and get from other bank.

This post has been edited by Tavia88: Jul 31 2015, 10:33 PM

 

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